Restructure and Asset Impairments

12 Months Ended

Aug. 31, 2023

Restructuring and Related Activities [Abstract]


For the year ended	2023		2022		2021

Employee severance	$	163	$	—	$	3
Asset impairments and other asset-related costs	14		63		478
Other	(6)		(15)		7
	$	171	$	48	$	488

In 2023, we initiated the 2023 Restructure Plan in response to challenging industry conditions. Under the 2023 Restructure Plan, we expect our headcount reduction to approach 15% by the end of calendar 2023 through a combination of voluntary attrition and personnel reductions. In connection with the plan, we incurred restructure charges of $171 million in 2023, primarily related to employee severance costs. The plan was substantially completed in the third quarter of 2023. As of August 31, 2023, we had paid $167 million in 2023 in connection with the 2023 Restructure Plan and the remaining liability was $4 million.

Restructure and asset impairments for 2022 and 2021 are primarily related to the sale of our Lehi, Utah facility. See “Lehi, Utah Fab and 3D XPoint.”